A revolution

in the crypto world

What is AUREI (ARE)?

AUREI (ARE) is a crypto currency, i.e. an unregulated digital asset used and accepted by the members of a given community, that qualifies as a payment token as defined by the FINMA in its guidelines for enquiries regarding the regulatory framework for initial coin offerings, as published on February 16th, 2018.

AUREI exists on blockchains using the Ethereum Protocol and as ERC20 tokens. These transport protocols consist of open source software that interface with blockchains to allow for the issuance and redemption of cryptocurrency tokens, in our case, “AUREI”.

Launched on November 2019 by Aurei Association located in Switzerland (Nyon, Canton of Vaud), AUREI was privately subscribed on Januray 3rd, 2020 at 1 Aurei = 1 BTC.

Why AUREI?

The AUREI mechanism is a breakthrough innovation that will open a new path in token design for the future, based on a token issuance price function (price increase factor) instead of a token issuance time function (either initially or at a later stage during the life of the token).

AUREI Project is a paradigm shift for the concept of token creation. Usually token creation dilutes former investor, here this effect is structurally different thanks to the token design: the price of the token must necessarily rise substantially for a new token issuance to take place.

How does AUREI work?

AUREI token (ARE) will be issued using a smart contract that meets the requirement of the ERC-20 standard in order to be easily interoperable within the ecosystem (e.g. be listed on exchange platform, be used for payment, etc.). Initially, 50 000 tokens will be issued and kept in reserve by Aurei Association. These tokens will be gradually and slowly offered for sale on exchanges.

Every time the price of AUREI token (ARE) on exchanges reach a new level, 500 new tokens are minted and distributed equally among the addresses of the developers. A level can be defined as a certain price to reach in order to trigger the next minting process. The minting process related to a level can only be triggered once and only once.

The price of a AUREI Token

The value of cryptocurrencies and tokens is determined by the market as most of them are quoted on exchange platforms to ensure liquidity to investors, AUREI token is no exception to the rule.

Nevertheless, an important and increasing number of cryptocurrencies and tokens have little to no liquidity. More importantly, there is a lack of value appreciation over time. One of the reasons for this downturn is how these instruments are designed: the economic incentives of developers are not truly tied to those of investors beyond the initial stage which lead to slow down or death of projects.

This is the reason why the price of AUREI token (ARE) used to unlock a new level is determined using a price index which is an average price obtained by aggregating the prices of AREs quoted on different exchanges. This price index is fed to the smart contract using an oracle. It is important to note that the number of levels is non-finite. This design choice was made on purpose to ensure that the developers are continuously economically incentivized over the long term.